Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $56.38.

Several brokerages have recently weighed in on BAM. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Wells Fargo & Company reduced their price target on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. Finally, TD Securities increased their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $48.48 on Friday. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market capitalization of $79.37 billion, a P/E ratio of 36.72, a PEG ratio of 1.92 and a beta of 1.50. The stock’s fifty day moving average is $54.84 and its two-hundred day moving average is $53.52.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, equities analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.61%. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Brookfield Asset Management by 25.6% in the 3rd quarter. Cerity Partners LLC now owns 25,996 shares of the financial services provider’s stock valued at $1,229,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.